"I now have a solution to this problem, but I'd rather not have to use it. The solution is mplayer, an open source media player. Among its protean capabilities, it can save a stream while playing any of its supported audio and video formats, which include progressively-downloadable WMV (e.g., Channel 9) and streaming RealVideo (e.g., JavaOne). It can extract the audio channel from these video streams to an uncompressed WAV file, which can then be encoded to MP3 using lame. So now I can both media-shift and time-shift these videos, and listen to them at my leisure."
I love the hacks that Jon Udell comes up with. He is able to do more with less time, using terms like media-shifts and time-shifts, and creating all these hacks. If only we could all be as creative, instead of being the ones who complain "I don't have the time!". After all, that's what technology is supposed to do, Help us accomplish more in less time.